Cheap Apartments for Rent in Monona, WI from $600 (115 Rentals)

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Search the lowest-cost Apartments available for rent right now in Monona.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Mardelle Apartments
1 to 2 Bedroom Apartments

Mardelle Apartments

408-470 Femrite DrMonona, WI 53716
  • Utilities Included
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Glendale Gardens
1 Bedroom Apartments

Glendale Gardens

201 Tompkins DrMonona, WI 53716
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Besa Monona
Studio to 2 Bedroom Apartments

Besa Monona

6501 Bridge RdMonona, WI 53713
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612 Femrite Dr
1 to 2 Bedroom Apartments

612 Femrite Dr

612 Femrite DrMonona, WI 53716
  • Utilities Included
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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The Post
Rent Specials
$759 - $1,950
Total Monthly Price

Total Monthly Price

Base Rent
$759 - $1,950
Total Monthly Price
$759 - $1,950
Studio to 1 Bedroom Apartments Available Now

The Post

131 E Lakeside StMadison, WI 53715
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  • Utilities Included
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Carbon
$771 - $1,943
Total Monthly Price

Total Monthly Price

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$771 - $1,943
Total Monthly Price
$771 - $1,943
1 to 3 Bedroom Apartments Available Now

Carbon

2418 Winnebago StMadison, WI 53704
Pet Friendly
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  • Utilities Included
  • Low Income
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21 Farwell St
$995 - $1,495
Total Monthly Price

Total Monthly Price

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$995 - $1,495
Total Monthly Price
$995 - $1,495
1 to 2 Bedroom Apartment Available Jul 1

21 Farwell St

21 Farwell StMadison, WI 53704
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Coachlight Village
$1,025 - $1,519
Total Monthly Price

Total Monthly Price

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$1,025 - $1,519
Total Monthly Price
$1,025 - $1,519
1 to 2 Bedroom Apartments Available Now

Coachlight Village

2609-2613 Pheasant Ridge TrlMadison, WI 53713
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  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Monona, WI Local Guide

Cheapest Available Monona Apartments for Rent

 

The cheapest available apartment rental in Monona, WI is a 1 Bed unit found at The Post in the Downtown Madison neighborhood priced from $759. Rise-Madison in the Near East Side neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $784. Here is today’s list of the most affordable Monona apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The PostOne Bedroom1BR,1BA$759
Rise-Madison2 Bed / 2 Bath2BR,2BA$784
Colonial ApartmentsStudioStudio,1BA$990
Madison Mayfair Apartments1 Bedroom1BR,1BA$999
The Life at Madison Grove2 BED 1 BATH2BR,1BA$1,000
Pirate Island ApartmentsStudioStudio,1BA$1,000
Coachlight Village1BR/1.0BA1BR,1BA$1,025
Capitol View Apartments1 Bed 1 Bath1BR,1BA$1,090
Lake Point TerraceOne Bed One Bath1BR,1BA$1,092

Best Value Apartments for Rent in Monona, WI

As of June 20, 2026 the best value apartment in the Monona area is the $1.10 price per square foot 5910 Monona Dr Model at 5910 Monona Dr, Unit Monona Apt in the in the Pflaum Road neighborhood starting from $2,195. The second greatest value Monona apartment is the 1049 Spaight St Model at 1049 Spaight St, Unit Apartment 3 starting at $1,000 with a $0.56 price per square foot in the The Isthmus neighborhood. Here is today’s list of the best values for Monona apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
5910 Monona Dr, Unit Monona Apt5910 Monona Dr2BR,2BA$1.10
1049 Spaight St, Unit Apartment 31049 Spaight St1BR,1BA$0.56
The RoyalA Floor Plan (60LMI Income Restricted)2BR,2BA$1.43
149 Leon St, Unit 1149 Leon St2BR,1BA$1.41
Stonewood Villagesv2brup2BR,1BA$1.45
Riverwood Apartments2BR/2.0BA2BR,2BA$1.45
5800 Bjelde Ln#81BR,1BA$1.29
Dale Street Apartments2 Bed 1 Bath - Heat Included2BR,1BA$1.45
The Life at Madison Grove2 BED 1 BATH2BR,1BA$1.18
Rise-Madison1 Bed / 1 Bath1BR,1BA$1.46

Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Discover the best student housing neighborhoods for renting in Madison, Wisconsin! This guide covers apartments near the University of Wisconsin-Madison, Edgewood University, Herzing University, and Madison Area Technical College, detailing locations like Regent, Shorewood Hills, Dudgeon-Monroe, and more for your perfect college home.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Monona, WI Rentals by Map

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Monona, WI Area Reviews

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Gwen • 4+ years in Monona

June 8, 2025

Monona is a safe & quiet community close to Madison. It's 8 minutes to the Dane County Courthouse. It's secluded from city life and sits next to 2 walking parks and Lake Monona. It's a wonderful place to live.

Frequently Asked Questions about Cheap Monona Apartments

What is the Cheapest Studio apartment in Monona?

Currently the most affordable Cheap Studio Apartment in Monona is at Colonial Apartments listed at $990.

How much is rent for a Cheap One Bedroom Monona Apartment?

The lowest price for a Cheap One Bedroom Monona Apartment is $759 at The Post.

What is the lowest price for a Cheap Two Bedroom Monona Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Monona is starting from $784 at Rise-Madison.

What is the most affordable Monona Three Bedroom Apartment?

The best deal on a cheap Monona Three Bedroom Apartment rental is at Madison Mayfair Apartments and starts from $1,300.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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Experts Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison

Written by: Mike Heuer

I’m Mike, your ApartmentHomeLiving.com local expert for Madison, Wisconsin. I lived and worked in Madison for several years before career opportunities took me elsewhere.

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Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Written by: Mike Heuer

I am Mike, your guide to student housing in the Greater Madison, Wisconsin, area. Madison is a terrific city that also is the Capital of Wisconsin.

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An Insiders Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin

Written by: Mike Heuer

Madison is Wisconsin’s capital city and its second-largest city, with a population of more than 260,000.

Articles, How-To's, and Tips

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.